LSB INDUSTRIES, INC. Exhibit 11.1
Page 1 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1997 quarter ended
------------------------
March 31 June 30
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 12,975,356 12,931,856
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis - -
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis 13,440 35,198
Purchases of treasury stock;
calculated on weighted average
basis (13,972) (60,367)
---------- ----------
12,974,824 12,906,687
Common Stock equivalents:
Shares issuable upon exercise of
options and warrants (including
the weighted average for shares
subject to options and warrants
granted during the period) - 790,942
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) - (539,953)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion - -
---------- ----------
- 250,989
---------- ----------
12,974,824 13,157,676
========== ==========
Earnings for primary earnings per share:
Net earnings (loss) $(5,437,954) $ 1,466,628
Dividends on cumulative preferred stocks (60,000) (75,390)
Dividends on convertible, exchangeable
Class C preferred Stock (6.5% annually) (743,438) (743,438)
---------- ----------
Earnings (loss) applicable to common stock $(6,241,392) $ 647,800
========== ==========
Earnings (loss) per share $(.48) $ .05
==== ====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 2 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Six months
ended
June 30, 1997
-------------
Net earnings (loss) applicable to common Stock $(5,593,592)
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 13,066,250
==========
Earnings (loss) per share $(.43)
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 3 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
1996 quarter ended
-------------------------
March 31 June 30
Shares for primary earnings per share:
Weighted average shares:
Common shares outstanding from
beginning of period 12,911,447 12,909,487
Common shares issued on conversion
of redeemable preferred stock;
calculated on weighted average
basis 270 -
Common shares issued upon exercise
of employee or director stock
options; calculated on weighted
average basis - -
Purchases of treasury stock;
calculated on weighted average
basis (330) (978)
---------- ----------
12,911,387 12,908,509
Common Stock equivalents:
Shares issuable upon exercise of
options and warrants (including
the weighted average for shares
subject to options and warrants
granted during the period) - 737,640
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on average market price for
the period) - (359,676)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion - 62,080
---------- ----------
- 440,044
---------- ----------
12,911,387 13,348,553
========== ==========
Earnings for primary earnings per share:
Net earnings (loss) $ (531,218) $ 2,371,797
Dividends on cumulative preferred stocks (75,520) (60,000)
Dividends on convertible, exchangeable
Class C preferred Stock (6.5% annually) (743,438) (743,438)
---------- ----------
Earnings (loss) applicable to common stock $(1,350,176) $ 1,568,359
========== ==========
Earnings (loss) per share $(.10) $ .12
==== ====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 4 of 6
PRIMARY EARNINGS PER SHARE COMPUTATION
Six months
ended
June 30, 1996
-------------
Net earnings applicable to common Stock $ 218,183
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 13,129,970
==========
Earnings per share $ .02
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 5 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1997 quarter ended
_________________________________
March 31 June 30
Shares for fully diluted earnings
per share:
Weighted average shares outstanding
for primary earnings per share 12,974,824 12,906,687
Shares issuable upon exercise of
options and warrants - 790,942
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on ending market price for
the quarter if greater than the
average) - (539,953)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above
on actual conversion - -
Common shares issuable upon conversion
of convertible note payable - 4,000
Common shares issuable upon conversion
of convertible preferred stock,
if dilutive, from date of issue:
Series B - -
Series 2 - -
---------- ----------
12,974,824 13,161,676
========== ==========
Earnings for fully diluted
earnings per share:
Net earnings (loss) $(5,437,954) $ 1,466,628
Dividends on cumulative convertible
preferred stocks:
Series B (60,000) (75,390)
Series 2 Class C (743,438) (743,438)
---------- ----------
Earnings (loss) applicable to
common stock $(6,241,392) $ 647,800
========== ==========
Earnings (loss) per share (.48) $.05
=== ===
Six months
ended
June 30, 1997
-------------
Net earnings (loss) applicable to common stock $(5,593,592)
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 13,068,250
==========
Earnings (loss) per share $(.43)
====
LSB INDUSTRIES, INC. Exhibit 11.1
Page 6 of 6
FULLY DILUTED EARNINGS PER SHARE COMPUTATION
1996 quarter ended
March 31 June 30
Shares for fully diluted earnings per
share:
Weighted average shares outstanding
for primary earnings per share 12,911,387 12,908,509
Shares issuable upon exercise of
options and warrants - 737,640
Assumed repurchase of outstanding
shares up to the 20% limitation
(based on ending market price
for the quarter if greater than
the average) - (359,676)
Common shares issuable on conversion
of redeemable preferred stock,
excluding shares included above on
actual conversion - 62,080
Common shares issuable upon conversion
of convertible note payable - 4,000
Common shares issuable upon conversion
of convertible preferred stock, if
dilutive, from date of issue:
Series B - 666,666
Series 2 - -
---------- ----------
12,911,387 14,019,219
========== ==========
Earnings for fully diluted earnings
per share:
Net earnings (loss) $ (531,218) $2,371,797
Dividends on cumulative preferred
stocks:
Series B (75,520) -
Series 2 Class C (743,438) (743,438)
---------- ----------
Earnings (loss) applicable to common stock $(1,350,176) $1,628,359
========== =========
Earning (loss) per share $(.10) $.12
==== ===
Six months
ended
June 30, 1996
-------------
Net earnings applicable to common stock $ 278,183
==========
Weighted average number of common and common
equivalent shares (average of two quarters
above) 13,465,303
==========
Earnings per share $ .02
=====
410q-10k\tq697x11.wp